Norway — Entra’s CEO Sonja Horn on the EUR 570 million deal: “We have never put the Trondheim portfolio up for sale, but…”

Nordic — Entra's two largest owners, Castellum and Balder, both submitted their Q3 reports on Friday, and there it appeared that they have different views on their holdings in the Norwegian real estate company. Castellum has chosen to make a write-down of close to SEK 0.5 billion, while Balder has chosen to leave the value unchanged. Balder’s CEO Erik Selin comments on Balder's view of the Entra holding and shares his view of the bond market.

Norway — Norway's largest real estate company Entra is owned by almost three quarters of Balder and Castellum, an investment that has dropped in value since they started investing in the company almost three years ago. The share is now down to levels for which it was last traded in January 2017. Wednesday's Q3 report did not have any significant impact in any direction, but the company's CEO Sonja Horn emphasizes that the company still focuses on strengthening the balance sheet and continues with its divestment program, but they will not sell properties at any discounts.

Norway — Yesterday Entra's credit rating was lowered by Moody's by one step from Baa1 to Baa2. The new rating also has a negative outlook, similar to the previous one. Entra's CFO Anders Olstad tells Nordic Property News that the downgrade has resulted in the company discussing its divestment target.

Nordic — Balder has no plans to change its ownership in Entra, and CEO Erik Selin sees it as too dangerous to buy up the entire company, although he believes that the company's stock is "extremely cheap" right now. Here he also tells how he sees the future of the company's rating from S&P, which in 2022 wrote down the outlook for the company's BBB rating to negative.

Norway — Entra has sold two properties in Oslo for almost NOK 1.5 billion. The buyer is NREP and the disposals were made at approximately one percent below book value according to Entra. For Nordic Property News, Entra's CFO Anders Olstad talks more about the background to the deal, why the property were sold below book value and what the ambition for their assets looks like going forward.

Norway — Entra, where Balder and Castellum are major owners, has now sold properties for SEK 2.3 billion, a little more than a third of the sales target of SEK 5.5 to 6 billion. In connection with the presentation of the Q1 report, CEO Sonja Horn commented more on how the divestment work is going in the challenging transaction market and explained why the vacancy rate increased during the first quarter.

Sweden — When the Q4 report was released, it was unclear from Castellum's side whether they would be net sellers or net buyers in 2023 – but after the Q1 report released on Wednesday, it is now clear that they will be net sellers. The Entra holding is not for sale according to the company, and CEO Joacim Sjöberg tells Nordic Property News how they see the sales potential in the rest of their extensive portfolio.

Norway — Entra’s CEO Sonja Horn: “The changing market conditions have also made us more cautious and focused on strengthening our balance sheet.”

Sweden — Castellum's CEO Rutger Arnhult announces that Castellum has recently changed its transaction strategy and will start taking steps that it "normally doesn't do". Here he tells more about the assets that may be sold, the view on the holding in Entra and if he can see himself increasing his holdings in Castellum in the future.